Six in Portland area charged with mortgage fraud

Six in Portland area charged with mortgage fraud

Six people in the Portland area were charged with fraud and conspiracy Wednesday, as part of a federal crackdown on mortgage fraud that started in 2008.

Two of the individuals worked for Lighthouse Financial Group, a now-defunct Vancouver company that already had three employees indicted for fraud.

The grand jury leveled a second indictment against Amsden and four others, accusing them of conspiring in a similar fraud scheme. Also indicted were Jo Schermerhorn, an Oregon tax preparer, Gerald Wallis, an allegedly unlicensed contractor, and two Oregon Realtors, Timothy Hills and Misti Wallis.

The five allegedly conspired to get two loans totaling $1.47 million from Washington Mutual to buy a lot at 14989 S. Clackamas River Road in Oregon City and build on the site. They allegedly cooperated to submit a false loan application in the name of Misty Wallis' mother.

Read the whole story at OregonLive.com.

{biztweet}mortgage fraud lighthouse{/biztweet}

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disapointed
0 #1 you deserve itdisapointed 2010-06-02 11:27:35
jerry and misti deserve it. he WAS my uncle until he went psycho. i hate them so much. good thing they got in trouble..
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extremely dissappointed!!!!
0 #2 Cascade Financial FRAUD - Jo Schermerhornextremely dissappointed!!!! 2011-01-20 17:44:25
She was our tax accountant for 6 years, advised us on tax issues that turned out to be fraudulent. We got audited by IRS, Jo declined to represent us and dumped us. Unbeknown to us - she was already in the middle of this fraud case and didnt want more charges brought to her!!!! I hope she rots in Jail and loses her license forever, so no-one else has to go thorugh this crazy lady!!!
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C. Elliott
0 #3 Decided not to work with Ms. SchermerhornC. Elliott 2011-03-17 12:35:52
We were recommended to Ms. Schermerhorn by a mutual friend and upon our first and only meeting we were initially impressed. We expressed our need for timely, precise and complete communication and Ms. Schermerhorn assured us that she generally returns e-mails within 24-hours. We sent her some important details and did not hear back for 5 days. We followed-up with voicemail and finally received a call from her assistant the next day, with our questions still unanswered. She wasn't able to get back to us because "she'd had a tough few days and was tired." Our overall confidence, the attitude coming from her office, the lack of follow-up and her indictment made us rethink our decision to work with her. Good customer service, good communication and follow-through are key and we just didn't feel that we could rely upon her for any of that.
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